Related News: "Innovation and Competitiveness"

Tokyo Shibuya Crossing Canada in the Pacific Century: Ensuring Canada’s Success in a Rebalanced Global Economy

More than 200 top CEOs, senior government officials, educators and other leaders from across Canadian society will gather in the nation’s capital later this year to map a strategy for Canada’s success in a world in which economic power is shifting to Asia.

“Canada in the Pacific Century,” a conference hosted by the Canadian Council of Chief Executives (CCCE), will take place at the new Ottawa Convention Centre on September 24 and 25, 2012.

The Co-Chairs of the conference steering committee are André Desmarais, Deputy Chairman, President and Co-Chief Executive Officer of Power Corporation of Canada, and Annette Verschuren, Executive Chair of NRStor Incorporated and former President of The Home Depot Canada and Asia. They are joined on the steering committee by: Joseph Caron, former Canadian Ambassador to Japan and the Peoples’ Republic of China, and High Commissioner to India; The Honourable David Emerson, former Minister of Foreign Affairs and Minister of International Trade; The Honourable Kevin Lynch, Vice-Chair, BMO Financial Group and former Clerk of the Privy Council; Indira Samarasekera, President and Vice Chancellor of the University of Alberta; and Janice Stein, Director of the Munk School of Global Affairs at the University of Toronto.

“Asia’s rise is driving … Read more »

Fiscally responsible 2012 budget includes targeted measures to improve Canadian competitiveness, CEOs say

OTTAWA, March 29, 2012 - The 2012 federal budget moves Canada closer to fiscal balance while taking steps to promote job creation and business investment, according to the Canadian Council of Chief Executives (CCCE).

“By restraining the growth in public spending, reducing regulatory overlap, improving Canada’s immigration system and enhancing support for business-driven research, the government is helping to build a stronger and more competitive Canadian economy,” said The Honourable John Manley, the CCCE’s President and Chief Executive Officer.

The CCCE is the senior voice of Canadian business, representing 150 chief executives and entrepreneurs from all major sectors and regions of the country.

“Budget 2012 builds on our country’s reputation for fiscal responsibility, while at the same time establishing a more positive environment for private sector investment and growth,” Mr. Manley said.
The CCCE welcomes the budget’s commitments to:

  • Build a faster and more flexible immigration system aimed at meeting Canada’s labour market needs;
  • Reform the review process for major economic projects to establish clear timelines and reduce regulatory duplication;
  • Intensify Canada’s pursuit of new and closer trade relationships, particularly in emerging markets;
  • Introduce targeted improvements to the foreign ownership review process that will strengthen investor confidence and enhance transparency;
  • Read more »

Date February 21, 2012 Related Issues

Chinese state-owned enterprises are motivated by profit, not national interest, study concludes

Multinational corporations owned by the Chinese government typically operate not as puppets of the state or the Chinese Communist Party but like any other commercial firm, a new study concludes.

In fact, Chinese state-owned enterprises (SOEs) are “profit-driven to their core”, writes Margaret Cornish, a former Canadian foreign service officer who is now based in Beijing as Chief Representative and Senior Advisor of Bennett Jones Commercial Consulting Inc.

In a report published jointly today by the Canadian Council of Chief Executives (CCCE) and the Canadian International Council (CIC), Cornish challenges the widespread perception that Chinese SOEs are primarily motivated to serve Chinese national interests and foreign policy.

For example, critics often suggest that Chinese state-owned energy and mining companies are less concerned with generating profits than with locking up supplies of natural resources for China’s own use.

In practice, however, Chinese SOEs operate much like their private sector counterparts in Canada and elsewhere – buying and selling oil and minerals on a regional basis to the highest bidder “rather than automatically directing product to their home market,” Cornish says.

In the past two years, state-owned Chinese companies such as PetroChina, Sinopec and China National Petroleum Corp. have invested more than … Read more »

Date February 16, 2012 Related Issues

Hong Kong harbour China’s economic rise ‘rife with contradictions’, trade policy expert says

OTTAWA, February 16, 2012 – China’s  recent economic growth is poorly understood by many Canadians, and much of what people think they know about the country is mistaken or misleading, says former Canadian trade negotiator Michael Hart.
“China is a tremendously complex country, rife with contradictions that would take a lifetime to appreciate fully,” Hart writes in a new paper titled, “Ambiguity and Illusion in China’s Economic Transformation: Issues for Canadian Policy Makers and Business Leaders.”
Today’s paper is the first in a new series of publications commissioned by the Canadian Council of Chief Executives (CCCE) to highlight Asia’s growing role in the global economy and the implications for Canada.
In the paper, Hart lists several examples of common misconceptions about China:

  • Although it is often assumed that economic decision-making in China is highly centralized, in reality the state has “neither the institutional nor human capacity for such a massive undertaking,” Hart says. Instead, provincial and municipal officials wield much of the day-to-day power, “adding to the difficulties that foreigners encounter when trying to do business in China”.
  • Similarly, Hart cautions against thinking of China’s economic development in monolithic terms. Although recent reforms have lifted more people out
  • Read more »

Date October 19, 2011 Related Issues

Canadians can look forward to a decade of opportunity, Manley says

TORONTO, October 19, 2011 – The global economy is undergoing a wrenching transformation, but Canadians can look forward to a bright future if we move quickly to unleash investment at home and seize new markets abroad, says The Honourable John Manley, President and CEO of the Canadian Council of Chief Executives (CCCE).

“With smart public policy and innovative, far-sighted business leadership, our country has the potential to lead the world’s major industrialized economies in growth and job creation, just as we did through much of the past decade,” Mr. Manley said today in remarks prepared for the Canadian Business Leadership Forum in Toronto.

To be sure, Canada and other advanced industrialized countries face many challenges. Economic growth has been weak throughout the developed world, unemployment remains high, Europe is struggling to get its fiscal house in order and U.S. consumer confidence is low.

Compared to many other countries, however, Canada has performed well. “When you combine our country’s relatively strong fiscal performance with our stable banking system and competitive tax environment, Canada has a very compelling story to tell,” Mr. Manley said.

Moreover, recent surveys have shown strong levels of business spending on new machinery and equipment – a trend … Read more »

PRINCE WIND FARM MARCH 7, 2007 Time For A Canadian Energy Strategy, Business Leaders Say

Canada’s federal and provincial governments should agree on a long-term strategy that will position Canada as a global leader in the transition to cleaner energy while maximizing the economic benefits of Canada’s diverse energy resources, the Canadian Council of Chief Executives (CCCE) said today.

“There is no lack of ideas on how to strengthen Canada’s energy advantage. What is needed is focus, discipline and follow-through,” the CCCE says in a report to energy minsters in advance of their meeting later this week in Kananaskis, Alberta.

The CCCE is Canada’s premier business association, representing 150 chief executive officers and leading entrepreneurs in all sectors and regions of the country.

“Canada is blessed with abundant energy resources, as well as the skills and technology that are required to develop them,” said The Honourable John Manley, the CCCE’s President and Chief Executive Officer. “But our future as an energy leader is not guaranteed. We need smart policy and private sector commitment to spur the necessary investments and realize the jobs and other benefits for Canadians from coast to coast.”

The report, titled Kananaskis 2011: Building an Agenda for a Sound Energy Future, puts forward a number of key recommendations for the energy … Read more »

Date June 2, 2011 Related Issues

Surge in business investment will strengthen economic growth and productivity, CCCE says

(Updated June 8, 2011)

Canada’s business leaders welcome Finance Minister Jim Flaherty’s call for strong private-sector investment to ensure that the Canadian economy continues to grow and create jobs.

“Business investment in new machinery and equipment is the fuel that powers economic growth and boosts productivity,” said The Honourable John Manley, President and Chief Executive Officer of the Canadian Council of Chief Executives (CCCE).

The CCCE is Canada’s premier business association, representing 150 chief executive officers and leading entrepreneurs in all sectors and regions of the country.

Speaking in Toronto on May 31, Minister Flaherty emphasized the importance of increased private-sector capital spending at a time when governments are winding down the stimulus programs they launched during the recent recession. “We need [Canadian companies] to invest – invest in machinery and invest in hiring – to help the economy grow,” the Minister said.

In fact, several recent surveys show an impressive upswing in capital expenditures by Canadian-based businesses.

“For the first time since 2007, all of the three heavy hitters of capital investment are moving in tandem,” said Avery Shenfeld, chief economist of CIBC World Markets Inc., in a March 30 report. “The oil sands, utilities and the manufacturing … Read more »

Bold Action Needed to Promote Canada-U.S. Security and Economic Growth, CCCE Says

Closer collaboration between Canada and the United States will improve each country’s ability to address security risks while promoting job creation and economic growth, says a new report from the Canadian Council of Chief Executives (CCCE). But Canada must act quickly and boldly to take advantage of this opportunity.

On Feb. 4, Prime Minister Stephen Harper and President Barack Obama launched a new initiative to improve bilateral cooperation. The leaders’ Declaration on a Shared Vision for Perimeter Security and Economic Competitiveness led to the creation of the Beyond the Border Working Group, which is negotiating a joint action plan to enhance security and accelerate legitimate flows of people, goods and services between our two countries.

The CCCE’s recommendations to the Working Group are contained in a report titled “From Vision to Action: Advancing the Canada-United States Partnership”, released today.

“We need to strike while the iron is hot,” said The Honourable John Manley, President and Chief Executive Officer of the CCCE. “Canada and the United States should move quickly to improve our shared border infrastructure and deploy the most up-to-date security technology. Early progress in a number of key areas will give us the momentum to see through other … Read more »

Date March 22, 2011 Related Issues

Business Leaders Welcome Improved Fiscal Outlook, Emphasize Need For Public Sector Spending Restraint

Canada’s federal deficit is declining faster than previously projected, driven in part by sustained economic growth, strong private-sector investment and higher-than-anticipated increases in corporate tax revenue, the Canadian Council of Chief Executives (CCCE) said today.

From a peak of $55.6 billion in 2009-10, the deficit is expected to fall to $40.5 billion in 2010-11 and $29.6 billion in 2011-12, according to Finance Minister Jim Flaherty’s 2011 federal budget.  At the current pace – and provided that the government resists the temptation to launch major new spending initiatives – Ottawa is on track to record a small surplus in 2015-16.

One reason for the more positive fiscal outlook is that federal government revenues from corporate income taxation are projected to increase by an annual average of 6.3 percent between 2010-11 and 2015-16.

“As the federal stimulus program winds down and the economy shifts from recession to growth, Canada’s private sector is doing its part to create jobs and invest in the future,” said The Honourable John Manley, the CCCE’s President and Chief Executive Officer.  

Indeed, the budget indicates that corporate income taxes now represent the single fastest growing source of government revenue.  Despite recent reductions in the statutory corporate tax rate, … Read more »

Date February 23, 2011 Related Issues

Business Leaders Welcome Progress In Forging A Stronger Canada-Japan Relationship

Canada’s business leaders today welcomed progress toward a closer trade and investment relationship between Canada and Japan, the world’s third-largest economy.

“The global economic centre of gravity is shifting toward Asia, so it is more important than ever that Canada strengthen its ties with key economies throughout the Asia-Pacific region,” said The Honourable John Manley, President and Chief Executive Officer of the Canadian Council of Chief Executives (CCCE).

“Japan is one of Canada’s largest trading partners and a significant source of foreign investment,” Mr. Manley added. “Our bilateral economic relationship is strong, but it could be much stronger and more diversified.  For that reason, we welcome today’s announcement by International Trade Minister Peter Van Loan that Canada and Japan have agreed to a joint study of the potential benefits of a wide-ranging economic partnership agreement.”

In 2006, during the last round of trade talks between the two countries, the CCCE recommended that Canada and Japan pursue a comprehensive trade, investment and economic partnership.  Such an initiative would go beyond the elimination of tariff and non-tariff barriers to address rules of origin, customs procedures, dispute settlement issues, standards issues, labour mobility restraints, domestic infrastructure issues, transparency and mutual recognition of regulations, … Read more »

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